Bank of The West Trims Stake in Carrier Global Co. (NYSE:CARR)

Bank of The West lowered its stake in shares of Carrier Global Co. (NYSE:CARR) by 2.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,817 shares of the company’s stock after selling 296 shares during the quarter. Bank of The West’s holdings in Carrier Global were worth $525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Mid Atlantic Financial Management Inc. ADV boosted its stake in Carrier Global by 1.8% during the second quarter. Mid Atlantic Financial Management Inc. ADV now owns 10,064 shares of the company’s stock worth $489,000 after acquiring an additional 181 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in Carrier Global by 0.9% during the second quarter. Perigon Wealth Management LLC now owns 21,291 shares of the company’s stock worth $1,035,000 after acquiring an additional 197 shares in the last quarter. Taylor Cottrill Erickson & Associates Inc. boosted its stake in Carrier Global by 1.2% during the second quarter. Taylor Cottrill Erickson & Associates Inc. now owns 16,413 shares of the company’s stock worth $798,000 after acquiring an additional 200 shares in the last quarter. Rathbone Brothers plc boosted its stake in Carrier Global by 2.1% during the second quarter. Rathbone Brothers plc now owns 10,755 shares of the company’s stock worth $523,000 after acquiring an additional 220 shares in the last quarter. Finally, River Wealth Advisors LLC boosted its stake in Carrier Global by 1.6% during the second quarter. River Wealth Advisors LLC now owns 15,620 shares of the company’s stock worth $759,000 after acquiring an additional 241 shares in the last quarter. 83.70% of the stock is currently owned by institutional investors and hedge funds.

In related news, VP Ajay Agrawal sold 18,969 shares of the company’s stock in a transaction on Thursday, August 19th. The shares were sold at an average price of $55.13, for a total transaction of $1,045,760.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David Appel sold 34,259 shares of the company’s stock in a transaction on Wednesday, August 4th. The stock was sold at an average price of $57.38, for a total transaction of $1,965,781.42. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Shares of CARR stock opened at $53.82 on Tuesday. Carrier Global Co. has a 12 month low of $28.79 and a 12 month high of $58.89. The stock has a market cap of $46.70 billion, a P/E ratio of 19.09, a P/E/G ratio of 1.71 and a beta of 0.79. The company has a current ratio of 1.56, a quick ratio of 1.23 and a debt-to-equity ratio of 1.35. The company has a 50 day simple moving average of $54.84 and a two-hundred day simple moving average of $47.83.

Carrier Global (NYSE:CARR) last announced its earnings results on Thursday, July 29th. The company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.08. Carrier Global had a net margin of 12.65% and a return on equity of 28.73%. The business had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $4.95 billion. As a group, equities analysts forecast that Carrier Global Co. will post 2.22 earnings per share for the current year.

CARR has been the topic of several analyst reports. Morgan Stanley upped their target price on shares of Carrier Global from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, July 30th. Stephens upped their target price on shares of Carrier Global from $55.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, July 30th. Citigroup initiated coverage on shares of Carrier Global in a research note on Friday, August 13th. They issued a “neutral” rating on the stock. UBS Group downgraded shares of Carrier Global from a “buy” rating to a “neutral” rating and upped their target price for the stock from $50.00 to $60.00 in a research note on Thursday, August 12th. Finally, Credit Suisse Group upped their target price on shares of Carrier Global from $46.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, July 30th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Carrier Global currently has an average rating of “Buy” and an average price target of $54.38.

About Carrier Global

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating and cooling needs of residential and commercial customers.

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Institutional Ownership by Quarter for Carrier Global (NYSE:CARR)

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